Bitcoin 2013: The Lightening Room Recap Pt 1

The Lightning presentations were varied and covered a range of interesting topics. Here are a few of the highlights.

Roman Snitko delivered a presentation on applying the Bitcoin protocol to creating new regimes for corporate governance. The concept being that in place of a unit in a Bitcoin-like protocol representing currency, it could represent a share of corporate stock. The attraction here being the original issuer of the stock could set a clear set of rules governing all aspects of ownership at the instance of the IPO; the rules would automatically enforce much of what we currently try to do through regulation and corporate directors seeking to go public would be incentivised to create rule sets that could inspire confidence for all stake holders involved-explicit, automated rules that removes discretion from the hands of leaders is the kicker.

Ed Clements of Bit Brew spoke to the challenges of point of sale transactions from a merchant perspective. He highlighted the potential benefits merchants doing business globally, but also highlighted the challenges of building trust and credibility between merchants and customers as Bitcoin transactions are irreversible.

Dr. Terence Lee recounted how he came to accept Bitcoin at his medical practice in Southern California. According to Dr. Lee, he started by posting an add on Redditt advertising his willingness to take Bitcoin as payment which netted him his first Bitcoin customer. He currently promotes Bitcoin use among his patients as the population that both has Bitcoin and is interested in his services (fertility treatment) is somewhat limited.